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Brin and Page announced their dual resignations and Pichai's new role in a letter published Tuesday to Google's blog.

"Today, in 2019, if the company was a person, it would be a young adult of 21 and it would be time to leave the roost. While it has been a tremendous privilege to be deeply involved in the day-to-day management of the company for so long, we believe it's time to assume the role of proud parents — offering advice and love, but not daily nagging!" the founders wrote.

Google CEO Sundar Pichai speaks during a news conference on Google's collaboration with small scale local businesses in New Delhi. (AP Photo/Tsering Topgyal, File)

"With Alphabet now well-established, and Google and the Other Bets operating effectively as independent companies, it's the natural time to simplify our management structure. ... And Alphabet and Google no longer need two CEOs and a President. Going forward, Sundar will be the CEO of both Google and Alphabet," they announced.

Pichai said he will continue to work with Brin and Page going forward in his new role.

"The founders have given all of us an incredible chance to have an impact on the world. Thanks to them, we have a timeless mission, enduring values, and a culture of collaboration and exploration that makes it exciting to come to work every day. It's a strong foundation on which we will continue to build," he wrote.